Rapid7 (NASDAQ:RPD) Releases Q3 Earnings Guidance

Rapid7 (NASDAQ:RPD) issued an update on its third quarter earnings guidance on Tuesday morning. The company provided EPS guidance of $0.50-0.53 for the period, compared to the consensus EPS estimate of $0.53. The company issued revenue guidance of $209-211 million, compared to the consensus revenue estimate of $209.28 million. Rapid7 also updated its FY24 guidance to $2.15-2.20 EPS.

Rapid7 Price Performance

Shares of NASDAQ:RPD traded down $0.42 on Tuesday, hitting $33.02. 1,686,842 shares of the company traded hands, compared to its average volume of 920,710. Rapid7 has a 52 week low of $32.94 and a 52 week high of $61.88. The stock has a 50 day simple moving average of $38.78 and a 200-day simple moving average of $46.08.

Rapid7 (NASDAQ:RPD) last released its quarterly earnings data on Tuesday, May 7th. The technology company reported $0.22 EPS for the quarter, meeting the consensus estimate of $0.22. Rapid7 had a negative return on equity of 31.09% and a negative net margin of 15.14%. The company had revenue of $205.10 million for the quarter, compared to analysts’ expectations of $204.10 million. As a group, equities analysts expect that Rapid7 will post 0.75 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently commented on RPD. Susquehanna dropped their price objective on Rapid7 from $55.00 to $40.00 and set a neutral rating on the stock in a research report on Monday, May 13th. Robert W. Baird cut Rapid7 from an outperform rating to a neutral rating and dropped their price objective for the company from $56.00 to $45.00 in a research report on Thursday, August 1st. Scotiabank began coverage on Rapid7 in a research report on Friday, April 26th. They set a sector perform rating and a $46.00 price objective on the stock. Baird R W cut Rapid7 from a strong-buy rating to a hold rating in a research report on Thursday, August 1st. Finally, KeyCorp raised Rapid7 to a hold rating in a research report on Monday, June 17th. Fourteen research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Rapid7 currently has an average rating of Hold and an average price target of $49.00.

Rapid7 Company Profile

Rapid7, Inc provides cybersecurity solutions under the Rapid7, Nexpose, and Metasploit brand names. The company offers endpoint to cloud data collection and sharing applications, such as Rapid7 Insight Agent, a software-based agent that is used on assets across on-premises and cloud environments to centralize and monitor data on company's platform; Rapid7 Insight Network Sensor that analyzes raw end-to-end network traffic to increase visibility into user activity, pinpoint real threats, and investigations; Rapid7 Cloud Event Data Harvesting that offers visibility into changes made to cloud resources; and third-party integrations and ecosystem, as well as orchestration and automation solutions.